We purchased a squaretrade warranty for a portable DVD player and unfortunately got a lemon of a product.
This was our story...
We used the player once and got a disc error message, since it was still under the factory warranty we paid to send it back to the manufacturers, got it back a month later only to find out the screen has gone out when it was being fixed/shipped. When we called the company back they would not cover it since it was now out of the warranty period, plus they did not cover screens.

So we figured we would put a claim in with Squaretrade fully expecting to get the same run around. However we were pleasantly surprised. We filed our claim, they sent us the shipping label, we got a conformation three days later that it had arrived and that we would receive a full reimbursement of the purchase price within a few days.

I couldn't believe how simple and painless it was and at a competitive price. We will be doing business with squaretrade again.

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Square Trade is great as long as you're happy with just getting your item's purchase price refunded, which is what they seem to do in most cases. If you'd rather have your item fixed, they rarely do that except for big expensive things, and even then, only up to the value of the item for all repair attempts.